Saudi Dar Al-Arkan seeks investors ahead of sukuk offering

Reuters
Above, a scaled version of Dar Al-Arkan鈥檚 Shams Ar Riyadh project on display during a property show in Riyadh last year. (Dar Al-Arkan Real Estate Development)
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  • Saudi property firm mandates banks to arrange meetings with fixed-income investors
  • Plans for seven-year, US dollar fixed-rate benchmark senior unsecured sukuk offering

DUBAI: 抖阴短视频鈥檚 Dar Al-Arkan Real Estate Development Co. has mandated banks to arrange meetings with fixed-income investors from Monday in the United Arab Emirates and London ahead of a planned 7-year sukuk issuance, a lead manager said.
The Saudi company has hired Alkhair Capital, Citigroup, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Mashreqbank, Nomura, Standard Chartered Bank and Warba Bank as joint lead managers and bookrunners, the lead manager said.
A seven-year, US dollar fixed-rate benchmark senior unsecured sukuk offering will follow, subject to market conditions, it said.

Topics: Finance property Dar Al-Arkan 抖阴短视频 Sukuk bonds economy 2030 2030 Economy